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Mortgage Market Update
My Mortgage Company
Lonnie Knob
Thursday, August 27, 2026
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How much equity do you actually have? |
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Hi there. This week I want to cover something that often flies under the radar for homeowners, but it's one of your biggest financial tools.
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National Mortgage Rates · August 20, 2026
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Source: Freddie Mac PMMS & Optimal Blue via FRED
Rates shown are national averages and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Equity Basics
Your home's equity is working for you
As you make mortgage payments, you're building equity—the difference between what your home is worth and what you still owe. This matters more than you might think. That equity can be a financial resource down the road, whether you need cash for home repairs, education, or a major life change. The longer you stay in your home and the more you pay down your loan, the more equity you accumulate. If you're curious about how much equity you've built, I can help you figure that out. It's one of those numbers worth knowing, because it's a real asset you own. Reach out if you'd like to talk about your home's equity and what options might be available to you.
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Tip of the Week
Your mortgage interest may be tax-deductible if you itemize. Check with your tax professional to see if it benefits you.
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Tips for Homeowners
Understanding Mortgage Points
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1.
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One mortgage point equals 1% of your loan amount. Paying points ("buying down the rate") reduces your interest rate — typically 0.25% per point, though this varies by lender and market.
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2.
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Calculate your break-even: divide the cost of the points by your monthly savings. If it takes 4 years to break even and you plan to stay 10 years, buying points makes sense.
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3.
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Points paid on a home purchase are generally tax-deductible in the year paid (if you itemize). Points on a refinance must be deducted over the life of the loan.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Lonnie Knob
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